Long Term Investment, Biotech & High Yield Dividend Stocks

[califax]

...Renewable Energy Initiatives Will Greatly Benefit Geothermal Industry

http://ih.advfn.com/p.php?pid=nmona&cb=1234967982&article=36315573&symbol=NY^RZ

Raser Believes Renewable Energy Initiatives in Stimulus Package Legislation Will Greatly Benefit Geothermal Industry

Raser Technologies, Inc. (NYSE: RZ), a leader in geothermal power generation, applauded President Barack Obama and the 111th US Congress for moving quickly to assemble and pass the American Recovery and Reinvestment Act that was signed into law yesterday.

The stimulus package contains key investment incentives and tax reductions to help jumpstart the economy and to create millions of “green” jobs. Raser identified the following specifics in the economic stimulus law, which are expected to help the Company accelerate its renewable energy development efforts:

* Grants for up to 30% of the development cost of renewable energy power plants
* Extension of the production tax credits for geothermal power plants for an additional 3 years, now through 2013
* Loan guarantees for debt funding of renewable energy development projects
* New investment tax credit for renewable energy projects
* Research and development investments for renewable energy
* Smart Grid Investment Program to help modernize the electrical grid and provide broader access for renewable energy projects
* Renewable energy bonds for state and local governments

“We applaud the vision of our leaders in supporting the development of our vast renewable resources,” said Brent M. Cook, CEO of Raser Technologies. “Many of the provisions in this bill open up new sources of funding for our geothermal projects and energy infrastructure. Not only will new funding channels open, but the geothermal industry may also be able to utilize new structures and funding instruments.

“We remain focused on meeting the growing demands for clean renewable energy while helping our country become more energy independent. We pledge our support to use the financial incentives and investments contained in this legislation to create green jobs and produce clean renewable geothermal power for our country,” said Mr. Cook.

About Raser Technologies

Raser (NYSE: RZ) is an environmentally focused ET (energy technology) licensing and development company operating in two business segments. Raser’s Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser’s Symetron™ technology developed internally by its Transportation and Industrial Technology segment. Raser’s Transportation and Industrial Technology segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser’s award-winning Symetron™ technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. Further information on Raser may be found at: www.rasertech.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding: our beliefs about preliminary drilling results; our beliefs about the potential for geothermal power generation on our leased properties and its qualification for certain federal tax credits; our beliefs about our ability to exploit the available geothermal resources; our beliefs about the expected timing relating to the testing and commissioning of our geothermal power project; our beliefs about local utility’s ability to complete their work in a timely manner; our beliefs about our ability to obtain adequate development funding; our beliefs about our ability to utilize our technology and other available technologies to produce electric power from the available resources; and our beliefs about the geothermal market in general. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology and third-party technology for the intended applications; our ability to secure necessary permits; the strength of our intellectual property; our ability to attract, train and retain key personnel; and such other risks as identified in our quarterly report on Form 10-Q for the quarter ended September 30, 2008, as filed with the Securities and Exchange Commission, and all subsequent filings.

All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.